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Lockton, the world’s largest independent and privately held insurance brokerage, reported revenue growth of 17% on a constant currency basis, with reported organic revenue growth at 16% for its fiscal year ending April 30, 2023. Lockton reported global revenue of $3.1B compared to global revenue of $2.7B in fiscal 2022. Revenue growth metrics are presented on a constant currency basis.    The company’s strong FY23 revenue growth was posted while lapping record organic revenue growth of 27% in the prior fiscal year. Lockton’s U.S. operations, international operations and global reinsurance business all posted double-digit organic growth, exemplifying the strength of an increasingly diversified platform.    “The Lockton family is proud to perpetuate the company’s private ownership generationally,” said Ron Lockton, Executive Chairman. “Our continued commitment to a lower margin and reinvesting in client resources, talent and culture, drives great momentum and opportunity for our people. This growth is a direct outcome of the passion our teams exhibit for bringing the best solutions to clients.”  In fiscal year 2023, Lockton expanded its geographic footprint with new offices in Colombia, Oman, and Sweden, and bolstered its presence in Brazil with the recent acquisition of THB Brazil. This was in addition to significant investments and recruiting of top talent in cyber, Private Risk Solutions, marine and financial services solutions. Lockton’s benefits practice also transitioned to People Solutions reflecting Lockton’s holistic approach to helping clients be more successful by making their employees’ lives better.   “Jack Lockton founded Lockton Companies in 1966 and believed that intense client focus, creating a caring culture, empowering people and remaining private would combine to create a special place for clients and exceptional talent,” said Peter Clune, CEO. “Our exponential growth is a result of us staying true to his business philosophies combined with the will of our people.”  Lockton’s award-winning culture is recognized around the globe, including being certified as a Great Place to Work in Australia and Mexico, being awarded the highest honor by b-Heard in the U.K., and being recognized among the Best Places to Work in Insurance for 14 years in a row and as a U.S. Best Managed Company for three consecutive years. 

Private ownership, long-term strategy drives double-digit growth for Lockton. Lockton's EOY results

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Private ownership, long-term strategy drives double-digit growth for Lockton

Byron Clymer, Troy Cook, Julie Gibson, Trey Humphrey, and Martyn Worsley Elevated into New Global Roles   Today, CEO Peter Clune announced the elevation of five key leaders into global roles for Lockton, the world’s largest independent, privately held insurance brokerage. These leaders will be working closely with the retail leadership team building innovative enterprise-wide solutions. Lockton recently surpassed $3 billion in revenue after 57 years in business, with $1 billion of that growth occurring in the past 24 months. “Lockton is attracting both complex clients and talented Associates all around the world, resulting in unprecedented growth,” said Peter Clune, Lockton CEO. “This new structure will be simple, collaborative and fast. The power of Lockton coming together on one global platform will help our people and clients reach their full potential.”   Troy Cook will continue in his role as Chief Financial Officer (CFO) and will now also lead all finance and legal Associates globally. After serving as an independent board member on Lockton’s board of directors since 2018, Cook joined Lockton as CFO in 2020. As an innovative finance executive, he has transformed the strategic finance function at Lockton to ensure long-term growth and private ownership perpetuation. During his time with the company, he has played a critical role in setting and executing business strategies while creating a new capital structure to ensure Lockton’s momentum and growth continues.   Julie Gibson, Lockton's Chief Marketing Officer (CMO), will prioritize expanding the reach of Lockton’s “Uncommonly Independent” brand. Her efforts have been vital in highlighting Lockton's authenticity and distinctive approach as a perpetually private brokerage with a long-term focus on its people, clients and communities. She will now oversee marketing and communications initiatives across the globe. Gibson has been an integral part of Lockton since 2018, where she has successfully launched a new brand identity, internal and external digital engagement platforms, and introduced innovative approaches to communicate the company’s unique story.   Trey Humphrey, Chief Legal Officer, has been an essential part of Lockton since 2000, and as General Counsel, he has played a crucial role in managing the company's legal affairs in an increasingly complex business environment. His leadership has been instrumental in  supporting Lockton's growth from $300 million to $3 billion. Humphrey will lead a robust, global legal team that will work to help achieve Lockton’s aggressive global goals and safeguard the company.   Martyn Worsley has been appointed Lockton's Chief People Officer after his significant successes over the past two years leading Human Resources across Lockton’s international business from London. In this new role, Worsley will lead Lockton’s global people strategy, driving initiatives to ensure Lockton wins the talent game and has the best culture in the industry. As a firm that grows one handshake at a time, Lockton has significant momentum in this area, which Worsley's leadership will continue to build upon.    Byron Clymer, Lockton's Chief Information Officer (CIO), has been entrusted with leading Lockton’s strategy to develop global platforms that empower its people to deliver clients with industry-leading advice and insight and unparalleled service. Since joining Lockton in 2018 as U.S. CIO, Clymer has been instrumental in overseeing the transformation of U.S. IT strategy and will now scale transformation across the globe.   “These newly-appointed executives have a proven track record of success at Lockton,” said Clune. "They are the best of the best, and they know how to drive meaningful change and preserve our culture." 

Today, CEO Peter Clune announced the elevation of five key leaders into global roles for Lockton, the world’s largest independent, privately held insurance brokerage

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Lockton Announces New Global Leadership Structure to Support Rapid Global Growth 

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Private ownership, long-term strategy drives double-digit growth for Lockton

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Private ownership, long-term strategy drives double-digit growth for Lockton

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